Debt greatest danger for U.S., U.K. commercial property, ING says

12/15/2009 | Wall Street Journal, The

With $247 billion worth of distressed real estate in the world, the burden of excessive debt is the biggest challenge to the future of commercial real estate, ING Real Estate Investment Management said. "We expect a significant amount of distressed property to come to the market on a foreclosure basis, but it will be orderly," said Timothy Bellman, the company's head of research and strategy. He said there isn't any real danger that a big portion of the distressed assets will be dumped on the market over a short period of time. Lenders will bring the property to the market over three or four years, Bellman said.

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